SEC Commissioner: Americans Should Have Freedom to Speculate
U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce believes that Americans should have the freedom to speculate on any assets they choose. In an interview with CNBC, Peirce stated that it is not her role as a regulator to dictate what people can or cannot purchase or speculate on.
Peirce emphasized that speculation is a driving force in the American economy and that regulators should provide a framework for investors, without endorsing specific assets. She encouraged individuals to be skeptical and ask questions before investing in cryptocurrencies or other assets.
Peirce has been critical of the SEC’s enforcement-focused approach to the crypto industry and has previously dissented against enforcement actions. She argues that vague promises to increase the resale value of tangible items, such as non-fungible tokens (NFTs), should not be treated as investment contracts.
Hot Take: SEC Commissioner Supports Freedom to Speculate
SEC Commissioner Hester Peirce believes that individuals should have the freedom to speculate on any assets they choose. According to Peirce, speculation is essential for market functioning, and regulators should provide a framework for investors without endorsing specific assets. While encouraging skepticism, she emphasizes that regulatory oversight does not imply a seal of approval. Peirce has been critical of the SEC’s enforcement approach towards cryptocurrencies and has previously dissented against enforcement actions targeting NFT sales. Her stance reflects a belief in individual autonomy and responsible decision-making in the investment landscape.
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